No, Allstate, NO. The RIGHT thing to do would be to a) return the van to its original owner and b) make the $25,000 donation to the battered women’s shelter. You’d get FAR MORE in positive press and could use the story about “doing the right thing” and feature the policy holder in your ads. Who is ADVISING you about this, Nationwide?!
Rus, why should Allstate return the van to the owner who signed over the title to Allstate? Allstate paid the claim back when the vehicle was stolen. If she wants the vehicle back then she needs to return the proceeds from the claim settlemen with Allstate, that’s only fair. She can’t get paid for the missing vehicle and when it is found (35 years later) ask for it back without returning something to Allstate.
I think this is a great idea. The company has legal title to the vehicle and it makes no sense to give up this asset for any reason. The original owner was compensated and probably bought another VW with the insurance proceeds. I see no reason for the original owner to benefit.
By placing the VW up for auction, the company may collect more than $25,000, all of which it will contribute to the charity. Good luck!
The original owner didn’t expect Allstate to GIVE it back. She was in contact with the company and hopefully they gave her dibs on buying it back at fair value before they decided to donate it.
Rus, I have to disagree with you. Allstate did the right thing by the contract. The insured was paid for the value of the loss. One of the most basic principles of insurance is that the claimant should not be paid more than the value. To allow “betterment” would violate this basic principle and set a precedent. This is not what an insurance policy is designed to accomplish.
That is like totally awesome, man. They found my sweet ride!
I just hope they didn’t empty the ash tray on the back seat armrest, because I had some stuff in there that I would love to get back, too. I couldn’t add the stuff to my claims form because, like, it was way secret.
I think they should sell it back to her for the amount they paid her originally + interest.
That van may have priceless memories of her first road trip, first kiss, losing her virginity, smoking her first joint, dropping that first tab of acid….
I think perhaps the original post was making reference to the fact that in a situation where the insurer’s dollar recovery for the “salvage” exceeds the ACV claim settlement payout, the vehicle owner is entitled to the difference after the insurer’s expenses (i.e., storage, transport, auction fees, etc.). In this case the “salvage” is an amazingly intact recovered theft that turned into a classic in the ensuing years: all those extra years and dollars complicates things. Allstate is likely taking the easiest way out — and milking it for a lot of positive-sounding PR.
They paid for the van a long time ago. She has no legal interest in the van. Why did a legal contract become such an issue? Why are they bad guys for fulfilling their legal obligations? So what that the van is worth more now? This is a business, not a charity. You want every company to run around like the character of the Tin Man in the Wizard of Oz, being a good deed doer. Childish.
What world do you live in? Allstate is doing the right thing. They could sell the van and pocket the money. Instead, they’re donating it to a worthy cause. If the original owner wants the van back, she should bid on it and win the auction.
I can assure everyone that I am no liberal and didn’t intend this to be flame bait. All I’m saying is that there could be tremendous PR value in giving her the ability to get her van back (“Allstate adjusters never sleep until you get you stuff back,” etc.). I think this would strike a positive chord with insureds who have suffered loss and felt like their insurance co didn’t give a hoot in hell for their situation. Giving America a happy ending story is always a good thing. “Are you in good hands? She is.”
I don’t see any additional PR. They’re getting great PR by donating the money to a worthy cause. There’s no way Allstate, or any other company, wants to imply that not only will we pay for your loss (that in itself should be enough to show an insured the company gives a hoot), but they’ll give you your stuff back if they recover it. What a mess that would be.
No, Allstate, NO. The RIGHT thing to do would be to a) return the van to its original owner and b) make the $25,000 donation to the battered women’s shelter. You’d get FAR MORE in positive press and could use the story about “doing the right thing” and feature the policy holder in your ads. Who is ADVISING you about this, Nationwide?!
Rus, why should Allstate return the van to the owner who signed over the title to Allstate? Allstate paid the claim back when the vehicle was stolen. If she wants the vehicle back then she needs to return the proceeds from the claim settlemen with Allstate, that’s only fair. She can’t get paid for the missing vehicle and when it is found (35 years later) ask for it back without returning something to Allstate.
I think this is a great idea. The company has legal title to the vehicle and it makes no sense to give up this asset for any reason. The original owner was compensated and probably bought another VW with the insurance proceeds. I see no reason for the original owner to benefit.
By placing the VW up for auction, the company may collect more than $25,000, all of which it will contribute to the charity. Good luck!
The original owner didn’t expect Allstate to GIVE it back. She was in contact with the company and hopefully they gave her dibs on buying it back at fair value before they decided to donate it.
Rus, I have to disagree with you. Allstate did the right thing by the contract. The insured was paid for the value of the loss. One of the most basic principles of insurance is that the claimant should not be paid more than the value. To allow “betterment” would violate this basic principle and set a precedent. This is not what an insurance policy is designed to accomplish.
That is like totally awesome, man. They found my sweet ride!
I just hope they didn’t empty the ash tray on the back seat armrest, because I had some stuff in there that I would love to get back, too. I couldn’t add the stuff to my claims form because, like, it was way secret.
I think they should sell it back to her for the amount they paid her originally + interest.
That van may have priceless memories of her first road trip, first kiss, losing her virginity, smoking her first joint, dropping that first tab of acid….
If the original owner wants the VW back, she can bid on it along with the other people.
I think perhaps the original post was making reference to the fact that in a situation where the insurer’s dollar recovery for the “salvage” exceeds the ACV claim settlement payout, the vehicle owner is entitled to the difference after the insurer’s expenses (i.e., storage, transport, auction fees, etc.). In this case the “salvage” is an amazingly intact recovered theft that turned into a classic in the ensuing years: all those extra years and dollars complicates things. Allstate is likely taking the easiest way out — and milking it for a lot of positive-sounding PR.
Confirmation to me why the Geicos and Progressives of this world are doing so well.
They paid for the van a long time ago. She has no legal interest in the van. Why did a legal contract become such an issue? Why are they bad guys for fulfilling their legal obligations? So what that the van is worth more now? This is a business, not a charity. You want every company to run around like the character of the Tin Man in the Wizard of Oz, being a good deed doer. Childish.
Sounds like a cry baby liberal too.
What world do you live in? Allstate is doing the right thing. They could sell the van and pocket the money. Instead, they’re donating it to a worthy cause. If the original owner wants the van back, she should bid on it and win the auction.
I can assure everyone that I am no liberal and didn’t intend this to be flame bait. All I’m saying is that there could be tremendous PR value in giving her the ability to get her van back (“Allstate adjusters never sleep until you get you stuff back,” etc.). I think this would strike a positive chord with insureds who have suffered loss and felt like their insurance co didn’t give a hoot in hell for their situation. Giving America a happy ending story is always a good thing. “Are you in good hands? She is.”
I don’t see any additional PR. They’re getting great PR by donating the money to a worthy cause. There’s no way Allstate, or any other company, wants to imply that not only will we pay for your loss (that in itself should be enough to show an insured the company gives a hoot), but they’ll give you your stuff back if they recover it. What a mess that would be.